My guess is this is messenger pay 2.0.
Now it’s across all of their brands, one payment solution which is hooked into all their outlets. Better for adoption and making sure everyone is completely integrated.
Once you are using Facebook pay (sorry, FACEBOOK Pay) it’s a much smaller step for Libra to be integrated and for you to start using it without thinking.
In a situation where you become adjusted to using this payment solution, and suddenly one day your default isn’t your card, it’s a digital currency with added benefits like no FX, and they don’t charge any fees, and both parties get the money sooner etc., the barrier to giving it a go is much lower. If it’s the same amount of taps and only gives you upside you probably won’t think twice about this new solution, it looks and feels the same to you in the moment, it’s just Facebook changing how you send the money.
Very smart move by Facebook in my mind. Firstly they are reentering the payment solution space, they are increasing the integration across their brands making them harder to separate and easier to blend into one “thing”, and it gives them a platform to roll out Libra when the time is right.
Libra doesn’t stop Facebook pay and Facebook pay won’t impact Libra’s progress in being created and approved. However, once Libra is ready Facebook will have a way to distribute and encourage adoption across all of their brands simultaneously. No more worrying about when each individual brand is ready, they all use one service which is the master for all things finance related.